Jan. 11, 2013 – Houston ranks third nationally in the buying power new associates enjoy with their first-year salaries, according to a survey conducted by the National Association of Legal Career Professionals.
The survey attempts to answer the question, "Which location offers the most buying power?" with the answer translating into discretionary income and lifestyle options for new attorneys.
The study used the median New York City private practice salary of $160,000 and cost of living as the benchmark, rather than a national average, to determine comparable “bang for the buck” for other cities. Houston’s median starting salary for the Class of 2011 was $115,000 while a salary of only $65,670 was needed to yield the relative buying power of working and living in NYC. Only Dallas and Wilmington, DE, ranked higher in the Buying Power Index while Honolulu ranked last out of the 76 cities surveyed.
Click here to read more about the survey and see city-by-city rankings.